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Press release from PR Newswire

SkyWest, Inc. Announces Additional Stock Repurchase Program

Thursday, May 06, 2010

SkyWest, Inc. Announces Additional Stock Repurchase Program07:00 EDT Thursday, May 06, 2010ST. GEORGE, Utah, May 6 /PRNewswire-FirstCall/ -- SkyWest, Inc. (Nasdaq: SKYW) today announced that it has been authorized by its Board of Directors to repurchase up to an additional 5 million shares of SkyWest, Inc. outstanding common stock. �This is in addition to the remaining 2.69 million shares previously authorized under the Company's stock repurchase program, for a total of 7.69 million shares authorized. The Company is authorized to repurchase in the open market or in privately negotiated transactions as deemed appropriate by management. �Depending on market conditions and other factors, these purchases may be commenced or suspended from time to time without prior notice. �SkyWest Airlines, based in St. George, Utah, and ASA, based in Atlanta, Georgia are wholly owned subsidiaries of SkyWest, Inc. �SkyWest Airlines operates as United Express and Delta Connection carriers under contractual agreements with United and Delta. �SkyWest Airlines also has a marketing agreement with AirTran. �ASA operates as a Delta Connection carrier under a contractual agreement with Delta. �ASA began service as a United Express carrier on February 11, 2010 under a contractual agreement with United. �System-wide, SkyWest serves a total of approximately 226 cities in the United States, Canada, Mexico and the Caribbean, with approximately 2,600 daily departures. �This press release and additional information regarding SkyWest, Inc. can be accessed at www.skywest.com. In addition to historical information, this release contains forward-looking statements. �SkyWest may, from time-to-time, make written or oral forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. �Such statements encompass SkyWest's beliefs, expectations, hopes or intentions regarding future events. �Words such as "expects," "intends," "believes," "anticipates," "should," "likely" and similar expressions identify forward-looking statements. �All forward-looking statements included in this release are made as of the date hereof and are based on information available to SkyWest as of such date. �SkyWest assumes no obligation to update any forward-looking statement. Actual results will vary, and may vary materially, from those anticipated, estimated, projected or expected for a number of reasons, including, among others: the challenges of competing successfully in a highly competitive and rapidly changing industry; developments associated with fluctuations in the economy and the demand for air travel; ongoing negotiations between SkyWest and its major partners regarding their contractual relationships; the financial stability of SkyWest's major partners regarding any impact on the contracts that SkyWest operates under in their behalf; the resolution of current litigation with one of its major airline partners; variations in market and economic conditions; the impact of global instability; rapidly fluctuating fuel costs; the degree and nature of competition; potential fuel shortages; the impact of weather-related or other natural disasters on air travel and airline costs; aircraft deliveries; and other unanticipated factors. �Risk factors, cautionary statements and other conditions which could cause actual results to differ from management's current expectations are contained in SkyWest's filings with the Securities and Exchange Commission; including the section of SkyWest's Annual Report on Form 10-K for the year ended December 31, 2009, entitled "Risk Factors." SOURCE SkyWest, Inc.For further information: Michael J. Kraupp, VP Finance and Treasurer of SkyWest, Inc., +1-435-634-3203, Fax, +1-435-634-3205